Yesterday Vechain announced a new system that uses the power of blockchain to allow users to share data in a safe and complaint way. The system, called Distributed Data Vending (DDV), has been developed as part of the VeResearch program.

DDV will allow companies, data owners, and researchers to share data in a new way, with interesting benefits for all parties compared to traditional data sharing systems. DDV will soon be used by upcoming dApps and ICO’s on the Vechain platform.

Introducing Distributed Data Vending (DDV), the future of compliant data sharing exclusive to VeChainThor. Putting power back into the hands of enterprises, customers, and researchers to collaborate and revolutionize the way the world shares and advances!https://t.co/OwjKG0V87G

— VeChain Foundation (@vechainofficial) March 22, 2018

Distributed Data vending

Current data vending structures have disadvantages for both providers as well as consumers.

Data providers have no way to control their own data or reap the rewards from sharing their own data. Just think about the recent Facebook data leaked to Cambridge analytica. In today’s online ecosystem lots and lots of data is collected from users, and what do those users get in return? Almost nothing.

On the other side data consumers have problems getting access to valuable data, for example, needed to do medical research. While big players like Google and Facebook have no problem collecting massive amounts of data, other parties are struggling to get the data needed for their business case.

Distributed data vending allows the providers of data to exchange (private) data with those looking to acquire data while eliminating the current problems as described above.

There are many use cases in which DDV can be implemented, and we can’t wait to see the first Vechain products rolling out that use DDV.